US private investment firm Blackstone Alternative Asset Management (BAAM) has hired Egidio Robertiello as managing director within its manager selection team.
Robertiello joins BAAM - a $2.3bn hedge fund of funds - from US investment advisory firm for pension and benefit funds, Summit Fiduciary Services, where he was president .
Commenting on the suitability of the appointment, J. Tomilson Hill, managing partner of BAAM added that the firm was “experiencing increasing investments from pension funds”.
Prior to forming Summit in 1999, Robertiello was vice president of pension and benefit investments for RJR Nabisco. He joined the consumer goods giant in 1984 from healthcare product designers Becton Dickinson where he held several positions in accounting and finance.
*BAAM currently advises the California Public Employees Retirement System CalPERS' $1bn hedge fund programme.
By Madhu Kalia
Industry Voice: Sponsored by Eaton Vance
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.